Abu Dhabi is consolidating its position as a leader in financial innovation with the launch of a new stablecoin backed by the United Arab Emirates dirham (AED).
🏦 New stablecoin backed by the dirham
Three key institutions in Abu Dhabi —the sovereign fund ADQ, the conglomerate International Holding Company (IHC), and the First Abu Dhabi Bank (FAB)— have announced a collaboration to launch a stablecoin linked to the AED. This digital currency will be fully regulated by the UAE Central Bank and will operate on the ADI blockchain, developed by the ADI Foundation to facilitate secure and compliant payments.
The stablecoin is designed to be used for both everyday transactions and advanced applications, including machine-to-machine payments and artificial intelligence systems.